{
  "ticker": {
    "uuid": "8b116b43-938a-41b5-a675-aae15d284321",
    "symbol": "VWSB",
    "name": "Vestas Wind Systems A/S",
    "exchange": "GER",
    "country": "DE",
    "assetType": "equity"
  },
  "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.",
  "analysis": {
    "eligible": true,
    "as_of": "2026-08-07",
    "benchmark": "^GDAXI",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 48.903,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Upper balance after advance",
    "architecture_gate": "up",
    "architecture_direction": 11.293,
    "architecture_energy": 8.815,
    "architecture_maturity": 15.256,
    "architecture_confidence": 71.65,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "Directional pressure has compressed into balance.",
        "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base."
      },
      "scores": {
        "balance": 61.1,
        "rotation_up": 28.47,
        "upward_expansion": 42.6,
        "deceleration": 72.58,
        "rotation_down": 26.34,
        "downward_expansion": 34.26
      },
      "activity_lines": [
        23.651334,
        23.699455,
        24.09342,
        23.862563
      ],
      "activity_state": "Compressed",
      "activity_direction": "Stable",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.333333
    },
    "latest_close": 23.870001,
    "trend_reference": 23.501046,
    "distance_from_trend": 0.0157,
    "trend_direction": "Improving",
    "fair_value": 19.213984,
    "distance_from_fair_value": 0.242324,
    "fair_value_direction": "Weakening",
    "relative_strength": 3.18683,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.106617,
    "excess_performance": 0.041977,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.0157,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.032292,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.242324,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.124793,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.031868,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.330099,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.106617,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.999131,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 110214,
      "relative_activity": 0.918092,
      "balance": 0.999131,
      "dry_up": 0.997057,
      "accumulation_observations": 2,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.073153,
      "annualized_volatility": 0.364167,
      "from_high_reference": -0.120486,
      "from_low_reference": 0.680545
    },
    "levels": {
      "trend_reference": 23.501046,
      "fair_value_reference": 19.213984,
      "structural_low": 19.6667,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 14,
        "median_return": -0.04061,
        "positive_rate": 0.428571,
        "directional_follow_through": 0.428571,
        "median_excess_return": -0.018412,
        "regime_survival": 0.285714,
        "best_return": 0.158008,
        "worst_return": -0.240624,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 8,
        "median_return": -0.153805,
        "positive_rate": 0.125,
        "directional_follow_through": 0.125,
        "median_excess_return": -0.112523,
        "regime_survival": 0.0,
        "best_return": 0.019185,
        "worst_return": -0.300156,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 6,
        "median_return": -0.133389,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.088106,
        "regime_survival": 0.166667,
        "best_return": 0.258788,
        "worst_return": -0.460928,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": -0.173012,
        "positive_rate": 0.25,
        "directional_follow_through": 0.25,
        "median_excess_return": -0.198541,
        "regime_survival": 0.0,
        "best_return": 0.497184,
        "worst_return": -0.425523,
        "sufficient": false
      }
    ],
    "ledger": [
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        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-01-05",
        "end": "2024-01-26",
        "tenure": "New",
        "return": -0.029466,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-02-02",
        "end": "2024-04-26",
        "tenure": "Established",
        "return": -0.031311,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2024-05-03",
        "end": "2024-05-10",
        "tenure": "New",
        "return": 0.060794,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2024-06-28",
        "tenure": "Developing",
        "return": -0.1559,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-07-05",
        "end": "2025-03-14",
        "tenure": "Extended",
        "return": -0.339366,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-04-11",
        "tenure": "New",
        "return": -0.169464,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "end": "2025-05-09",
        "tenure": "New",
        "return": 0.110829,
        "active": false
      },
      {
        "regime": "balance",
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        "end": "2025-05-30",
        "tenure": "New",
        "return": -0.053,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2025-09-19",
        "tenure": "Established",
        "return": 0.060357,
        "active": false
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      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2025-10-10",
        "tenure": "New",
        "return": 0.077452,
        "active": false
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      {
        "regime": "upward_expansion",
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        "return": 0.204904,
        "active": false
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      {
        "regime": "deceleration",
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      {
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        "return": -0.048249,
        "active": false
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      {
        "regime": "balance",
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        "start": "2026-06-26",
        "end": "2026-08-07",
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        "active": true
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      },
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        "date": "2026-04-24",
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        "date": "2026-05-08",
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      },
      {
        "date": "2026-06-12",
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      },
      {
        "date": "2026-06-26",
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        "relative_strength": 11.600253,
        "stage": 2,
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      },
      {
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        "relative_strength": 13.65689,
        "stage": 2,
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      },
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        "typical_volume": 129559.25,
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        "fair_value": 19.175252,
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        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
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      },
      {
        "date": "2026-07-17",
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        "volume": 91964,
        "typical_volume": 123769.6,
        "trend": 23.455776,
        "fair_value": 19.178544,
        "relative_strength": 11.924095,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 24.062546,
        "energy": 10.942614,
        "activity_lines": [
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          23.836182,
          24.235115,
          23.842898
        ]
      },
      {
        "date": "2026-07-24",
        "close": 23.42,
        "volume": 130754,
        "typical_volume": 120904.4,
        "trend": 23.492507,
        "fair_value": 19.186163,
        "relative_strength": 7.428617,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 18.781807,
        "energy": 10.192697,
        "activity_lines": [
          23.74,
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          24.186271,
          23.84059
        ]
      },
      {
        "date": "2026-07-31",
        "close": 23.46,
        "volume": 145842,
        "typical_volume": 122162.55,
        "trend": 23.496903,
        "fair_value": 19.193237,
        "relative_strength": 4.781797,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 6.402511,
        "energy": 9.685153,
        "activity_lines": [
          23.635333,
          23.650909,
          24.127064,
          23.838493
        ]
      },
      {
        "date": "2026-08-07",
        "close": 23.870001,
        "volume": 110214,
        "typical_volume": 120046.85,
        "trend": 23.501046,
        "fair_value": 19.213984,
        "relative_strength": 3.18683,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 11.293408,
        "energy": 8.815479,
        "activity_lines": [
          23.651334,
          23.699455,
          24.09342,
          23.862563
        ]
      }
    ],
    "method": {
      "price_basis": "completed market observations",
      "trend": "Trend provides the primary directional reference.",
      "fair_value": "Fair Value provides long-term price context and is not a forecast or target.",
      "relative_strength": "Relative Strength shows leadership or lagging performance against the market benchmark.",
      "classification": "The SM framework combines Trend, Activity, Fair Value, Relative Strength and participation into a structural read."
    }
  }
}